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Miramar

to float

by Mark Andrews

fter bringing to market the most successful IPO of 2010 – Doray “Glandore was too small for a company like AngloGold, similar to
AMinerals – Allan Kelly (pictured) is back to replicate the feat with what Andy Well was for WMC. Glandore fits into Miramar and the
Miramar Resources Ltd. thing with our projects is that they are near to existing projects and
A best-case scenario will see Miramar minted by the start of Diggers there maybe a number of potential options for them,” Kelly said.
& Dealers after fulfilling an IPO with $5-8 million raised at 20c/share. Gidji is near Horizon Minerals Ltd’s 500,000oz Boorara gold
Although there are some similarities for Kelly 10 years on from his operation, while Glandore is along strike from Silver Lake’s Imperial/
first IPO – Shaw & Partners will again run the book for what will be Majestic deposits.
a West Australian gold-focused company – he believes his armoury Once listed, the company is targeting aircore/RC drilling at Gidji,
is better placed from the get-go this time around. where there is potential for extensions to the 314,000oz gold
“I reckon Gidji and Glandore are better than the stuff we had in Runway deposit, followed by lake drilling at Glandore.
Doray at the beginning,” Kelly told GMJ. Meanwhile, testing of auger anomalies at Lang Well, defining
“I had a history and a bit of an idea at Andy Well, but I think Gidji and drill targets at Garden Gully in the Murchison, at the same time
Glandore are more advanced and better looking than Andy Well as progressing other tenements in its widespread portfolio
was. The other stuff in Miramar is earlier stage, conceptual in nature, encompassing ground in the Gascoyne are Miramar’s aims in its
than the second-tier stuff we had in Doray, which had to take a back first year on the bourse.
seat and probably got underdone because the money and focus Joining Kelly at Miramar will be Marion Bush (non-executive
had to be on Andy Well.” technical director), Terry Gadenne (non-executive director) and
The attention afforded Andy Well saw Doray move into production, Mindy Ku (company secretary/chief financial officer).
which was followed by the company’s second mine in the “An IPO is an onerous process, probably a bit too onerous, but it
Murchison, Deflector. gives you a clean shell to start with and then it is up to you what
After offloading Andy Well and Deflector, which are both now happens from there,” Kelly said.
owned by Silver Lake Resources Ltd, Kelly ventured into the North “We have kept Miramar simple – WA gold, no-one’s been greedy
American/Australian gold sectors with Riversgold Ltd until he on the vend, and we have no legacy issues. People get focused on
resigned in March 2019. That meant by the time the 2019 Diggers the IPO; that is the pregnancy, the main game is bringing up the kid;
& Dealers arrived Kelly was ready to saddle up for another foray that is the way I look at it.”
into the sector. Despite the frustrations of getting an IPO off the ground, Kelly
However, as the gold sector was taking off, Kelly found a scarcity expects Miramar to be among a wave of new companies listing on
of available projects that interested him, and it was only in February the ASX.
that an opening appeared via the Gidji and Glandore projects. “I think there will be a flood of new companies and I think we have
Gidji is now subject to JV with Thunder Metals Pty Ltd the 20% got in ahead of the rest and hopefully we have the timing right on
free-carried partner to a decision to mine. Glandore, formerly of everything else as well,” Kelly said.
AngloGold Ashanti Ltd stock is also set to fly under the Miramar
banner.

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